Over £74 million in Premium Bond prizes are currently sitting unclaimed, with some winnings dating back more than 50 years. National Savings and Investments (NS&I), which manages Premium Bonds, is encouraging holders to check if they are among those due a payout, which could range from £25 to £100,000.
Premium Bonds are a popular savings product in the UK, offering tax-free prizes instead of interest. Each £1 bond has an equal chance of winning in the monthly draw. The unclaimed prizes highlight a significant sum that could provide an unexpected boost to many households, especially during a period of economic uncertainty.
Many of the unclaimed prizes are for smaller amounts, but a considerable number are for more substantial sums. The oldest unclaimed prize dates back to November 1968, for £25. Reasons for prizes going unclaimed often include changes of address, forgotten bonds, or lost prize warrants. NS&I states it holds prize money indefinitely until claimed.
To check for unclaimed prizes, holders can use the official NS&I prize checker tool on their website or the NS&I app. These require the holder's NS&I number. For those who have lost their NS&I number, contact with NS&I directly will be necessary to retrieve details. It is crucial for customers to be vigilant against scams; NS&I will never contact winners by email, text message, or phone call to request bank details.
Holders have the option to receive their prizes directly into their bank account or have them automatically reinvested into more Premium Bonds, increasing their chances of future wins. Updating personal details with NS&I, particularly bank account information and address, is crucial to ensure future prizes are received promptly and avoid adding to the unclaimed total.